What is TRON (TRX)? A Complete Guide to the Project, Team, and Token

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TRON (TRX) is the native cryptocurrency of the TRON blockchain, a project designed to create a decentralized platform for sharing entertainment content. The Tron Foundation, a non-profit organization behind the initiative, aims to disrupt the entertainment industry, which is valued at over $1 trillion.

The open and decentralized TRON platform allows digital content creators to bypass intermediaries like the App Store or Google Play, enabling direct compensation from consumers. Currently, a handful of companies, including Facebook, Amazon, and Google, control a significant portion of user data and online engagement. TRON seeks to reduce this dominance by returning data ownership to content creators.

Core Features of TRON

TRON’s mission is to "heal the Internet" by implementing the following key elements:

The Three Tokens of the TRON Ecosystem

The TRON network features three primary tokens:

  1. TRONIX (TRX): The native Ethereum-based token of TRON, serving as the base value for the blockchain.
  2. TRON 20: Custom tokens that content creators can offer to users.
  3. TRON Power (TP): Obtained by locking TRX tokens, TP grants users enhanced privileges, such as additional voting rights. The number of TP tokens received depends on the lock-up duration, encouraging long-term investment.

How TRX Works

TRON is a long-term project divided into multiple phases, from Exodus in 2017 to Eternity, planned for 2027. Each phase has distinct goals:

  1. Exodus (2017–2018): A peer-to-peer platform for decentralized content distribution and storage.
  2. Odyssey (2019–2020): Introducing economic incentives to encourage content creation.
  3. Great Voyage (2020–2022): Enabling personal ICOs for fundraising.
  4. Apollo (2022–2023): Allowing content producers to issue personalized TRON 20 tokens.
  5. Star Trek (2023–2025): Developing a decentralized prediction market platform.
  6. Eternity (2025–2027): Facilitating content monetization and community growth through advanced blockchain technology.

Detailed Analysis of TRON’s Roadmap

TRON is an ambitious project integrating several experimental technologies. The team has allocated over a decade to achieve its goals.

Exodus Phase: Focused on building a decentralized file-sharing system using a protocol similar to IPFS. This phase does not yet utilize blockchain technology, which will be introduced later.

Odyssey Phase: Aims to drive adoption and build a community of creators and consumers. TRON plans to move away from view-based monetization, allowing users to reward creators directly with TRX via payment channels.

Great Voyage & Apollo Phases: These stages will enable creators to launch personal ICOs and custom tokens. TRON will develop its own Turing-complete blockchain platform for smart contracts, similar to Ethereum.

Star Trek Phase: Focuses on creating a decentralized prediction market.

Eternity Phase: Aims to streamline fundraising and content monetization, leveraging technologies from IPFS and Ethereum.

About TRX and the Team

TRX’s ICO took place from August 3 to 24, 2017. The project is led by Justin Sun, often referred to as "the new Jack Ma." At just 27 years old, Sun has an impressive background:

Other key team members include Lucien Chen (CTO, ex-Alibaba), Maorong Lin, and Xiadong Xie, all with extensive experience in entertainment and e-commerce technology.

TRON is supported by influential figures in the Chinese community, such as Hitters Xu (Nebulas founder), Tang Binsen (Clash of Kings creator), and Xue Manzi (prominent angel investor). The project also benefits from partnerships with companies like Huobi.com and OFO Bike.

TRX Market Data and Availability

TRX cannot be mined. As of January 2018, the circulating supply was 65.7 billion TRX, with a total supply cap of 100 billion. In December 2017, the TRON Foundation locked 34.2 billion TRX until January 2020.

TRX has experienced significant price appreciation since its launch. Initially traded at $0.002 in September 2017, it reached $0.12 by January 2018—a 60x increase. Despite endorsements from figures like John McAfee, the token’s price remained volatile.

How to Buy TRX

TRX is primarily traded on exchanges like Binance against Bitcoin (BTC) and Ethereum (ETH). To purchase TRX:

  1. Acquire BTC or ETH from a platform like Coinbase.
  2. Transfer the funds to a Binance wallet.
  3. Exchange BTC or ETH for TRX.

Binance offers a user-friendly interface and low fees, making it a popular choice for traders.

Storing TRX Wallets

As an ERC-20 token, TRX can be stored in any Ethereum-compatible wallet. Recommended options include:

Frequently Asked Questions

What is TRON’s main goal?
TRON aims to decentralize the entertainment industry by allowing content creators to interact directly with consumers, eliminating intermediaries.

Can TRX be mined?
No, TRX cannot be mined. The total supply is fixed at 100 billion tokens.

Is TRON a good investment?
TRON is an experimental project with high risk and potential reward. Investors should conduct thorough research and consider market volatility.

How does TRON differ from Ethereum?
While both support smart contracts, TRON focuses specifically on entertainment and content distribution, whereas Ethereum is a general-purpose blockchain.

What is TRON Power (TP)?
TP is obtained by locking TRX tokens, granting users additional voting rights and benefits within the ecosystem.

Where can I learn more about TRON?
For detailed information, refer to the official TRON whitepaper.

Conclusion

TRON is a promising yet ambitious project backed by a talented team and influential supporters. If successful, it could revolutionize content distribution and create significant value for token holders. However, as an experimental venture, it carries substantial risk. Investors should approach with caution and stay informed about technological developments.

For further insights, explore the official TRON resources.